The Park City Council wants to create housing, commercial space, public areas, a new home for the Kimball Art Center and an underground parking garage on the city-owned property at the intersection of Bonanza Drive and Kearns Boulevard.
The city purchased the five acres in 2017 for nearly $20 million and originally planned to use the area as an arts and culture district with new headquarters for the Kimball Art Center and the Sundance Institute.
These plans were eventually abandoned after the cost to the district exceeded $100 million.
Park City began a new planning process for the site earlier this year, gathering public input through online surveys and community open houses.
The city recently closed the Request for Quotation (RSOQ) period, which requires developers to submit previous work similar to what Park City plans to build on the 5 acres.
Park City Manager Matt Dias says the next step will be issuing a request for proposals (RFP) asking developers to submit site plans based on what the city wants for the property.
“I usually like to exceed expectations, but we really hope that in the next few weeks we can put out a call for proposals where we actually call for concrete proposals,” Dias said. “The first step is to qualify companies.”
The RSOQ process allows the city to determine whether developers meet the standards for building the mixed-use project.
“The second step is to issue a request for proposals where development teams from across the country will evaluate the 2-hectare site, review the existing land use planning, assess the public financing instruments, evaluate all of our goals and visionary work, and finally submit a proposal that they believe meets the wishes of the community,” Dias said.
During the proposal process, the city will focus on maximizing public benefits, Dias says.
The city council has received rough cost estimates from consultants for the plan for the 2-acre site. The range is wide, from a few million to $75 million, and depends on several variables, including the amount of affordable housing and underground parking.
